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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

Hellcat motor 'fits like a glove' in the Wrangler and Gladiator, says Jeep

Just like "technically correct" is the best kind of correct, "technically possible" is the best kind of possible. Specifically, it's technically possible to slot a Hellcat crate motor into the Jeep Wrangler and Gladiator, as confirmed by Jeep brand chief Tim Kuniskis. Speaking to Australian media last week, Kuniskis went on to say that "everybody" keeps asking him if the supercharged, 6.2-liter Hellcat V8 fits in the Wrangler and Gladiator, and that the answer is yes. "It fits like a glove," said Kuniskis. But — there is a but — the fitment is so close for comfort, it makes the combination one that Jeep can never produce. "There's no air space around the engine [...] so you have no crush space, you have nothing that can be used to absorb energy in a crash. It's not a problem to put it in — other than emissions and fuel economy — except it would never pass any crash tests, and that's a problem," as Kuniskis told Drive. However, since the Hellcat is now out of the bag, it's probably only a matter of time until hobbyists with access to these engines will start putting them into Wranglers and Gladiators. And with the time-honored piece of advice — just don't crash into anything — it'd be a combination worth seeing and hearing. Just to throw it out there, a "Hellcrate" engine costs less than $20,000 new. Kuniskis also said that Jeep is "gauging interest" for the J6 concept, one of the Easter Jeep Safari concepts that were just revealed. "[The J6] is just a concept at this stage. But that doesn't mean we're not going to gauge interest for it." However, he said justifying its production is apparently "tough."

Jeep Chief and Wrangler Red Rock Responder teased ahead of Easter Jeep Safari

Jeep is being coy about it's lineup for the 2015 Moab Easter Jeep Safari, releasing just a pair of shots and an exceptionally brief press release on two of the seven concepts coming to the desert later this month. So, what can we glean from the limited assets that have been given to us? Well, as we said, we know Jeep is bringing seven vehicles to its big festival. We also know the names of two vehicles, shown above – there's the Chief and the Wrangler Red Rock Responder. Which is which? A fair question. We're betting the second image is the Wrangler-based Red Rock Responder. As for the Chief, well, we've absolutely no idea what to expect there. Jeep's Moab concepts generally include the model name on which their based – see the Grand Cherokee Trail Warrior and Cherokee Dakar from last year, or even the Wrangler Red Rock Responder, mentioned above. There's no such moniker on the Chief. As for the Chief's illustrated teaser image, as we said, it doesn't reveal much. The body is angular, and quite Jeep like, with squared-off wheel arches and decidedly old-school taillights. Beyond that, though, we don't have much to go on. Expect much more not just on the Chief and Red Rock Responder, but on all seven of the concepts Jeep is bringing to Moab. The party starts on March 28 and runs until April 5. Be sure to check back then for full coverage. Related Video: